Commonwealth Numbered Acts

LAND FUND AND INDIGENOUS LAND CORPORATION (ATSIC AMENDMENT) ACT 1995 No. 20 of 1995 - SECT 7

7. Section 76 of the Principal Act is amended:

   (a)  by inserting after paragraph (1)(b) the following paragraph:

"(ba) when requested to do so by the Minister, to evaluate or audit particular
aspects of the operations of:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation;";

   (b)  by inserting after paragraph (1)(d) the following paragraph:

"(da) when requested to do so by the Indigenous Land Corporation, to evaluate
or audit particular aspects of the operations of:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation;";

   (c)  by inserting after paragraph (1)(jf) the following paragraphs:

"(jg) when requested to do so by the Minister or the Indigenous Land
Corporation, to evaluate or audit the activities of an individual who has
received one or more grants or loans from:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation; but only to
               the extent that the evaluation or audit concerns those grants
               or loans;

   (jh) when requested to do so by the Minister or the Indigenous Land
        Corporation, to evaluate or audit the operations of a body corporate
        that has received one or more grants or loans from:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation; but only to
               the extent that the evaluation or audit concerns those grants
               or loans;

   (ji) when requested to do so by the Minister or the Indigenous Land
        Corporation, to evaluate or audit the operations of an unincorporated
        body that has received one or more grants or loans from:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation; but only to
               the extent that the evaluation or audit concerns those grants
               or loans;

   (jj) when requested to do so by the Indigenous Land Corporation, to
        evaluate or audit the activities of a borrower, being an individual
        one or more of whose loans have been guaranteed by:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation; but only to
               the extent that the evaluation or audit concerns those
               guarantees;

   (jk) when requested to do so by the Indigenous Land Corporation, to
        evaluate or audit the operations of a borrower, being a body corporate
        one or more of whose loans have been guaranteed by:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation; but only to
               the extent that the evaluation or audit concerns those
               guarantees;

   (jl) when requested to do so by the Indigenous Land Corporation, to
        evaluate or audit the operations of a borrower, being an
        unincorporated body one or more of whose loans have been guaranteed
        by:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation; but only to
               the extent that the evaluation or audit concerns those
               guarantees;";

   (d)  by inserting after paragraph (1)(k) the following paragraph:

"(ka) to report on evaluations and audits conducted in accordance with
paragraph (ba), (jg), (jh), (ji), (jj), (jk) or (jl), in writing, to the
Indigenous Land Corporation and the Minister at least every 3 months;";

   (e)  by inserting after paragraph (1)(o) the following paragraph:

"(oa) to tell the Minister and the Indigenous Land Corporation about
particular problems that have arisen or may arise in relation to the
operations of:

        (i)    the Indigenous Land Corporation; or

        (ii)   a subsidiary of the Indigenous Land Corporation;";

   (f)  by inserting after subsection (1) the following subsection:

"(1A) Paragraphs (1)(jg) to (jl) (inclusive) do not apply in relation to a
thing done by a subsidiary of the Indigenous Land Corporation unless the thing
was done as the result of the performance by the subsidiary of a function
corresponding to a function of the Indigenous Land Corporation.".